Leveraged Loans

  • Volvo Car gets state backing in loan market

    Volvo Car gets state backing in loan market

    Sweden’s Volvo Car, a car maker, has become the latest company under pressure from the coronavirus pandemic to sign a state-guaranteed loan, as bankers say that state support is essential to secure commercial bank loans for the worst affected sectors.

  • People moves in brief

    People moves in brief

    Citi picks Nick Darrant as syndicate head — And it sets up new sustainability and science units — JP Morgan reveals next layer of DCM, ECM and M&A bosses

  • New UK insolvency law puts secured creditors in the firing line, Travelodge to be first test

    New UK insolvency law puts secured creditors in the firing line, Travelodge to be first test

    The new UK insolvency law, introduced into the British parliament on Wednesday, will allow unconsenting creditor classes, including secured creditors, to be crammed down during a restructuring. This could mean bondholders and banks, rather than landlords, take more of the pain in the coming wave of corporate distress. Hotel chain Travelodge is likely to be one of the first major companies to use the new rules.

  • Bridge book sales begin with Financière CEP buyout loan launch

    Bridge book sales begin with Financière CEP buyout loan launch

    JP Morgan and Nomura have started the syndication of the loan backing Bridgepoint’s buyout of French mortgage insurance broker Financière CEP, in a sign that market conditions have improved enough to fire the starting gun on the sale of loans underwritten before the coronavirus crisis shut markets.

  • Office reopening poses serious risks, with or without virus testing

    Office reopening poses serious risks, with or without virus testing

    Without a vaccine for the coronavirus, it is clear that reopening offices is a serious risk for capital markets businesses. What firms need are strict distancing measures, facial masks and hand sanitiser — but also, crucially, access to frequent testing for the virus and the antibody.But that is a path fraught with difficulty.

  • Sponsors seen seeking competitors’ loans

    Sponsors seen seeking competitors’ loans

    Some financial sponsors are said to be trying to purchase loans from their competitors’ portfolio companies, as an opportunistic way to benefit from the coronavirus-driven disruption. But the European loan market’s restrictive transfer provisions make this a legal high-wire act.

  • Bankers baffled by FCA's aims in ancillary business probe

    Bankers baffled by FCA's aims in ancillary business probe

    Loans bankers are puzzled by a probe by the UK's Financial Conduct Authority into whether banks attached improper conditions to loans to companies during the coronavirus crisis. They are concerned the FCA could edge into criticism of the system of bank-client relationships that underpin modern corporate finance, and some believe this is already having an influence on how companies think about mandates.

  • UK Treasury extends CLBILS loan scheme to £200m

    UK Treasury extends CLBILS loan scheme to £200m

    The Treasury announced on Tuesday an extension to the Coronavirus Large Business Interruption Loan Scheme (CLBILS). From May 26 certain businesses can apply for loans up to £200m under CLBILS but there are restrictions on dividend payouts and management pay rises.

Leveraged loans news archive